New Motion Labs raises £750k from Green Angel Syndicate to commercialise chain technology.
Green Angel Syndicate led the funding round to support the commercialisation of the company products.
Share allotment filed at Companies House
Exeter-based company that re-engineers traditional chain and sprocket systems through its patented Enduo technology.
New Motion Labs has secured £750k in a funding round led by Green Angel Syndicate. The company will use the capital to commercialise its innovative chain technology.
Founded in 2015, the startup focuses on re-engineering traditional roller chains to reduce friction and wear. Its flagship Enduo technology targets markets such as eCargo bikes, competitive cycling, and industrial applications including conveyor systems and robotics.
The investment allows the business to scale its operations and introduce its durable chain systems to wider industrial sectors.
From the founder
"When you’re riding a bicycle 8 to 15 hours a day, with a 300-500kg load, the current technologies for the chain drive just can’t do that justice. Our new Enduo chain technology is the world’s fastest and most durable cycling chain drive. By reducing friction, the chain wear reduces, and the bike goes faster with every pedal. Our patented technology has delivered a small change that has a massive effect. We innovate through design, improving efficiency and durability without increasing cost."
Marcel Fowler
CEO at New Motion Labs
Investor perspective
"Our specialist members have enjoyed supporting Marcel and his team, as they continue to grow New Motion Labs. Efficiency improvements in chain drive mechanisms can have a huge impact on the energy consumption required to operate them. And of course, reducing energy consumption is a key element of the fight against climate change."
Cam Ross
CEO, Green Angel Syndicate
Use of funds
- 01Fund acquisitions
Investors
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About the company
New Motion Labs
New Motion Labs develops re-engineered chain and sprocket technology for industrial and cycling markets.